A Time for Action on Climate Change and a Time for Change in Economics

The case for action on climate change with urgency and at scale rests on the immense magnitude of climate risk, the very rapid emissions reductions which are necessary, and that there is a real opportunity to create a new and attractive form of growth and development. The analysis must be based on a dynamic approach to the economics of public policy, set in a complex, imperfect and uncertain world. The economics of climate change, and further, economics more broadly, must change to respond to the challenge of how to foster rapid transformation. It is time for economics and economists to step up.

Nicholas Stern, A Time for Action on Climate Change and a Time for Change in Economics, The Economic Journal, Volume 132, Issue 644, May 2022, Pages 1259–1289, https://doi.org/10.1093/ej/ueac005